LFMA

Dear members of LFMA, Last Saturday our colleagues from ASSIOM FOREX in Italy have successfully delivered their 31st Annual Congress in Turin hosted by Intesa Sanpaolo. Bringing together over 1,200 participants—including financial professionals, banking executives, institutional representatives, and industry leaders—the Congress served as a key platform for insightful discussions and updates on critical topics such as artificial intelligence, digital transformation, and global trade policies. During the event, the Governor of Bank of Italy, Fabio Panetta had his official speech where he gave his view on the economic situation and outlook for 2025: 📉 Global disinflation trends: Inflation is easing faster than expected, but growth remains fragile. 🌍 Geopolitical and trade risks: The global economy faces uncertainty due to trade fragmentation, supply chain shifts, and new U.S. tariff policies. 💶 The euro area’s struggles: Low growth, weak consumer confidence, and investment stagnation call for urgent policy action. 📊 Monetary policy ahead: The ECB is cautiously moving towards rate cuts, but financial conditions remain tight. 📌 Read the Governor’s full speech in English here: https://lnkd.in/gpVXen_2 📌 Read the Governor’s full speech in Italian here: https://lnkd.in/g-8fGfJk Best regards, Vincenzo Giunta President of LFMA 🗓️ Torino, 14/15 febbraio 2025 📍 Centro Congressi Lingotto #ASFX25 #31CONGRESSO #ASSIOMFOREX

We were privileged to kick off the Official Opening of the Luxembourg Financial Year OLFY 2025 - with an inspiring speech by the Minister of Finance of Luxembourg, Mr. Gilles Roth. His words set the perfect tone for our event, emphasizing values, connectivity, innovation, stability and sustainability. For those who couldn’t attend, we’re excited to share his full speech below. 👇👇 A huge thank you to the Minister and all our participants for making OLFY 2025 a great success! #OLFY2025 #LuxembourgFinance #FinancialYearOpening #Innovation #Stability #Sustainability #FinanceLeadership #LFMA #GillesRoth #FinancialMarkets Ministry of Finance, Luxembourg, Luxembourg for Finance Luxembourg Sustainable Finance Initiative LFMA ICMA - International Capital Market Association - ALRiM GFR® - Global Fund Risk CFA Society Luxembourg LUXSIPA Jenny de Nijs Robert J. Jarvis Cordelia Chaton Isa Ribeiro Serge de Cillia Nicoletta Centofanti Lorenzo Avico Ernano Molino Aleksandra Gesellchen Philippe Bernard, CFA Fabien Le bayon Fabrice Todeschini Sven Conter ACI Financial Markets Association Stephane Malrait 🌍 Rui Correia Frederic PAILLOUX Ileana Pietraru José António Pereira da Silva Branko Petrovic Mario Kolinski Hugh Whelan Luca Mancuso 🇱🇺 Vincenzo Giunta https://lnkd.in/ezviEJxH

Dear members of LFMA, As we embark on a new year full of opportunities and challenges, we kick off 2025 with an insightful discussion featuring Intesa Sanpaolo. In this episode of SPOT & FORWARD, we welcome back Mr. Luca Mezzomo, Head of Macroeconomic Analysis, for his expert take on key market themes. From the impact of Trump’s return to the White House to the outlook for ECB rate cuts and the resilience of the BTP market, Luca shares his perspective on what lies ahead. We also explore how Europe can navigate shifting geopolitical dynamics and maintain a strong, united stance. Join us as we dive into these crucial topics - watch the full interview now! A special thanks from the Board of LFMA to Luca Mezzomo, Massimo Torchiana, Paolo Agretti, Fabio Perdichizzi and specially to Fabio Morvilli, President of Camera di Commercio Italo-Lussemburghese for the support delivered on SPOT & FORWARD. Best regards, Vincenzo Giunta President of LFMA 📸🎥Andre Mitin #SPOT&FORWARD #Macrooutlook #2025 #Geopolitics&markets https://lnkd.in/gnJyVGB8

The big questions for 2025: Will rate cuts come as expected? How will markets react to geopolitical shifts? And what’s next for Europe? As announced in this short video by Mr. Paolo Agretti Business Director & Credit Sales, we invite you to stay tuned as we will soon unveil the new 2025 Outlook with Mr. Luca Mezzomo, Head of Macroeconomic Analysis at Intesa Sanpaolo. Stay connected for key insights! Best regards, Vincenzo Giunta President of LFMA #SPOT&FORWARD #MarketOutlook2025 #EconomicTrends #FinancialMarkets #GeopoliticsAndMarkets #Macroeconomics https://lnkd.in/e4fZWnqY

Dear Members, OLFY 2025, the official opening of the Luxembourg Financial Year was a great success, bringing together over 360 key stakeholders to discuss the future of our financial center. The Minister of Finance, Mr. Gilles Roth shared his strategic vision, focusing on five fundamental pillars: innovation, connectivity, stability, sustainability, and value. These priorities will shape our industry’s path forward, reinforcing Luxembourg’s position as a global financial hub. We are dedicated to ensuring our members’ voices are heard and fostering meaningful connections across the sector. Together, we will drive progress and strengthen our financial ecosystem in the year ahead. You can relive the evening’s events by watching our latest video Best regards, Vincenzo Giunta President of LFMA 🎥📸Andre Mitin #OLFY #Luxembourg #Financial #Year #2025 Ministry of Finance, Luxembourg LFMA ICMA - International Capital Market Association ALRiM GFR® - Global Fund Risk CFA Society Luxembourg LUXSIPA Jenny de Nijs Robert J. Jarvis Cordelia Chaton Isa Ribeiro Serge de Cillia Ernano Molino Aleksandra Gesellchen Philippe Bernard, CFA Fabien Le bayon Fabrice Todeschini Sven Conter ACI Financial Markets Association Stephane Malrait 🌍 Rui Correia Frederic PAILLOUX José António Pereira da Silva Branko Petrovic Mario Kolinski Hugh Whelan https://lnkd.in/ej-tQ54N

The Board warmly invites you to the Official Opening of the Luxembourg Financial Year (OLFY 2025) on January 30th at VINISSIMO featuring our special guest, the Minister of Finance, Mr. Gilles Roth. This gathering, in collaboration with ICMA - International Capital Market Association, ALRiM, GFR® - Global Fund Risk, CFA Society Luxembourg, and LUXSIPA will set the tone for a year of shared ambition, collaboration, and excellence. Together, we will explore new opportunities, strengthen our network, and continue shaping the future of Luxembourg’s financial sector. Please find below the invitation to OLFY 2025 by Mr. Fabrice Todeschini, President of LUXSIPA. Warm regards, Vincenzo Giunta On behalf of LFMA’s Board #WeAreLFMA🇱🇺 #since1957 #OLFY #2025 #Official #Opening #Luxembourg #Financial #Year 🎥Fabio Bottani 📸📹Andre Mitin Sven Conter Fabien Le bayon Ernano Molino Franck Luxembourger Aleksandra Gesellchen Antonio LAQUINTANA https://lnkd.in/eXv5GMdm

The Board warmly invites you to the Official Opening of the Luxembourg Financial Year (OLFY 2025) on January 30th at VINISSIMO featuring our special guest, the Minister of Finance, Mr. Gilles Roth. This gathering, in collaboration with ICMA - International Capital Market Association - ALRiM, GFR® - Global Fund Risk -CFA Society Luxembourg, and LUXSIPA will set the tone for a year of shared ambition, collaboration, and excellence. Together, we will explore new opportunities, strengthen our network, and continue shaping the future of Luxembourg’s financial sector. Please find below the invitation to OLFY 2025 by Mr. Philippe Bernard, CFA President of CFA Society Luxembourg: https://lnkd.in/gAz8-yTD Warm regards, Vincenzo Giunta On behalf of LFMA’s Board #WeAreLFMA🇱🇺 #since1957 #OLFY #2025 #Official #Opening #Luxembourg #Financial #Year 🎥Fabio Bottani 📸📹Andre Mitin

The Board of LFMA warmly invites you to the Official Opening of the Luxembourg Financial Year (OLFY 2025) on January 30th at VINISSIMO featuring our special guest, the Minister of Finance, Mr. Gilles Roth. This gathering, in collaboration with ICMA - International Capital Market Association - ALRiM, GFR® - Global Fund Risk, CFA Society Luxembourg, and LUXSIPA will set the tone for a year of shared ambition, collaboration, and excellence. Together, we will explore new opportunities, strengthen our network, and continue shaping the future of Luxembourg’s financial sector. Please find below the invitation to OLFY 2025 by Mr. Yves Bodson, ICMA Luxembourg Chair and Ms. Isa Ribeiro, ICMA IWN Steering Committee Member: https://lnkd.in/e5eXhkPf Warm regards, Vincenzo Giunta On behalf of LFMA’s Board #WeAreLFMA🇱🇺 #since1957 #OLFY #2025 #Official #Opening #Luxembourg #Financial #Year 🎥Fabio Bottani 📸📹Andre Mitin Daniel Scuto Guy Weymeschkirch Camilo Realpe Stefano Finesi Jean-François Thielens

Dear Members of LFMA, We warmly invite you to the Official Opening of the Luxembourg Financial Year (OLFY 2025) on January 30th at VINISSIMO featuring our special guest, the Minister of Finance, Mr. Gilles Roth. This gathering, in collaboration with ICMA - International Capital Market Association, ALRiM, GFR® - Global Fund Risk, CFA Society Luxembourg and LUXSIPA will set the tone for a year of shared ambition, collaboration, and excellence. Together, we will explore new opportunities, strengthen our network, and continue shaping the future of Luxembourg’s financial sector. Please find below the invitation to OLFY 2025 by Mr. Luc Neuberg, PhD President of ALRiM https://lnkd.in/eW3Rzf-X Warm regards, Vincenzo Giunta On behalf of LFMA’s Board #WeAreLFMA🇱🇺 #since1957 #OLFY #2025 #Official #Opening #Luxembourg #Financial #Year 🎥Fabio Bottani 📸📹Andre Mitin Ministry of Finance, Luxembourg ACI Financial Markets Association, ACI France - AFTB Luxembourg for Finance, Yves Bodson, Guy Weymeschkirch, Isa Ribeiro,Luc Neuberg, PhD, Michael Derwael Eleonora Labita, GFR, Claude Origer, CHRISTIAN HUSS, Pascal Berg, Philippe Bernard, CFA, Fabrice Todeschini, Sven Conter, Fabien Le bayon, Rui Correia, Franck Hebeisen, Kim Winding Larsen, Mario Kolinski, Branko Petrovic, Serge de Cillia, Aleksandra Gesellchen, Ernano Molino, Franck Luxembourger

In the sixth podcast of his fifth series, Alastair Newton has adapted the five big issues in his Outlook 2025 to come up with a ten political and geopolitical issues which he sees as particularly likely to have an impact on markets. He notes that there are, if anything, even more issues and even more uncertainty than usual, much of which can be attributed to Donald Trump. He goes on to argue that tariffs are the biggest ‘grey rhino’ and to argue that Wall Street is underestimating the threat posed by this one issue on which Mr Trump has been totally consistent. Equity markets may prove to be the only effective check on the US president. He foresees some big and bloody battles over fiscal policy within the Republican Party in the wake of last month’s congressional rebellion over the debt ceiling. Bond markets will also have their say. He believes that China’s economy will continue to struggle, further shackled by expanding US tech-related embargoes. Although Mr Trump may be the biggest disrupter of the established liberal economic order, the so called ‘quartet of chaos’, ie China, Iran, North Korea and Russia, will all play their part. Notwithstanding, he expects the oil price to continue to slide consistent with the 2024 trend. On Europe he is not optimistic about the outturn of the German election and prospects for debt ceiling reform. And he is, if anything, even more pessimistic about France. The related EU leadership vacuum will be hard to fill. Finally he warns that investors may need new tool kits to navigate their way through the chaos and seize the related opportunities. The geopodcast is entitled ‘Chaos & Opportunity: Outlook 2025’ and is restricted to members only who received a password by E-mail to access it. Best regards, Vincenzo Giunta President of LFMA #Geopodcast #outlook #2025 #10 #political #issue #DonaldTrump #Tariff #Equity #Bond #EU #China #US